Lottery Winner to become Accountant

[TromboneAl]

In an article about the eight meat-processing workers who won 15 million each (after taxes):

"Alain Maboussou, a 26-year-old who fled his war-torn homeland in Central Africa, said he planned to earn a degree in accounting now."

That's just weird: "Oh, boy, I just won 15 million dollars, now I can become an accountant!"

 

[brewer12345]

Who knows what it means to somebody like an immigrant meatpacker? People get funny ideas about what others' daily lives are like. Plus, I guarantee you that the poor guy has no clue about money and has never given a thought to what life would be like if he didn't have to work.

I think I'd like to spend a lot of time volunteering after I retire. How many people spend a couple of decades earning and saving so they can spend their days trying to housebreak stray dogs?

 

[REWahoo]

I liked this guys quote:

When one of the winners, Eric Zornes, 40, was asked whether he was still working at the plant, he replied: "No. I've been retired for about four days now."

Didn't even give two weeks notice. How rude...

 

[maddythebeagle]

Come to think of it, have there been any big lottery winners that have posted here?

 

[bow-tie]

...Didn't even give two weeks notice.  How rude...

I think I would have to go to work for those two weeks. Just so I could sit there and GRIN.

 

[Texas Proud]

I am an accountant that wants to become a LOTTERY WINNER

 

[Andre1969]

I think if I ever hit it big (Lottery, inheritance, stock market, or otherwise) I'd still at least put in my two week's notice. Unless, of course, my co-workers pissed me off enough!

 

[Nords]

Unless, of course, my co-workers pissed me off enough!

"Everybody's so different, I haven't changed."

-- that modern philosopher, Joe Walsh

 

[PJ03]

Come to think of it, have there been any big lottery winners that have posted here?

That would be me. I'm a huge LOTTERY WINNER... I won my green card in an Immigration Lottery back in the late eighties after been illegal for quite a while. Does that count ?

 

[REWahoo]

That would be me. I'm a huge LOTTERY WINNER... I won my green card in an Immigration Lottery back in the late eighties after been illegal for quite a while. Does that count ?

Maybe. How much notice did you give your former country?

 

[cute fuzzy bunny]

The majority of lottery winners are broke or declare bankruptcy within 10 years. Many by 5.

 

[TromboneAl]

Wow!  Yes:

Seventy percent of those who become suddenly wealthy squander it within a few short years, according to the National Endowment for Financial Education.

About one-third of lottery winners eventually declare bankruptcy, according to the Certified Financial Planners Board of Standards.

I think that indicates that people who spend their money on lottery tickets are even more financially challenged than most.

P.S. What do you think of the picture of Bud Post's girlfriend in the above story?

 

[MJ]

The lottery would be a perfect match for me. I am single, frugal, not that close to my family. I'd change my name from MJ to JM. I would miraculously begin to receive a tax free pension of $500k/year. The many homes and condos, I spend time in would be timeshares that I bought many years ago. Me rich, nah, I am just a retired and lucky schnuck.

JM

 

[nomo-aloha]

Who knows what it means to somebody like an immigrant meatpacker?  People get funny ideas about what others' daily lives are like.  Plus, I guarantee you that the poor guy has no clue about money and has never given a thought to what life would be like if he didn't have to work.

I think I'd like to spend a lot of time volunteering after I retire.  How many people spend a couple of decades earning and saving so they can spend their days trying to housebreak stray dogs?

Your post reminds of a story I heard Wayyyyy back when the US was on the right track and looking for Bin Laden in Afghanistan.

Some General (?) frustrated with the local populace commented that he and his soldiers once gathered a group around and explained to them that there would be a reward of 25 million US dollars for the capture of Bin Laden and that they should consider what that money could do for them.

Apparently the most popular question was "how many breeding goats will 25 million buy"?

 

[maddythebeagle]

The majority of lottery winners are broke or declare bankruptcy within 10 years.  Many by 5.

I know a few "trust fund babies" that did the same thing. Something about learning how to keep money and earn and save it yourself goes a long way.

 

[cute fuzzy bunny]

Well, most of the winners are people who have never had money and dont know how to manage it.

If they manage to avoid the barrage of 'get richer quicker' schemes, investing doo-dahs, relatives and friends they forgot about who all come out of the woodwork...

And they manage to not blow it all buying crap for themselves and everyone they know...

And they manage to not have someone "take care of their investing" by siphoning off 2-10% of their money every year "managing their investments"...

Then they often find themselves in 5 or 10 years with a lot of expensive, aging stuff that needs a lot of maintenance and repair. That they cant afford.

Its shocking how fast some of them go through big money. I read a few profile stories of people who burned $10M+ in under 3 years. Unbelievable.

 

[retire@40]

I wonder if any of those winners view their $15,000,000 as roughly $600,000 a year?

 

[REWahoo]

I wonder if any of those winners view their $15,000,000 as roughly $600,000 a year?

I had the same thought earlier today. I'm betting the answer is NO.

 

[Outtahere]

We had a discussion about this at the family breakfast Sunday as grandfather was checking his numbers.  Everyone had ideas of what they would do and who they would take care of.  I pissed off upset my sister when I said I wouldn't give anyone anything (said with sarcasm in my voice). She is now convinced that if I should ever win I'll disown the family and run away never to be seen again.  She is one of those people that would be broke in 10 years. She is also one of those people that feels because I have more than I need I should be giving it to her.

 

[Spanky]

I wonder if any of those winners view their $15,000,000 as roughly $600,000 a year?

The winning of $15.5 million (in lump-sum) is after taxes.

 

[REWahoo]

The winning of $15.5 million (in lump-sum) is after taxes.

Spanky, the $600,000 per year number is a reference to the 4% (of $15m) SWR.

 

[cute fuzzy bunny]

I'd like that SWR. Probably couldnt spend it sustainably unless I went the yacht, airplane and 5 homes routine.

 

[justin]

I'd like that SWR. Probably couldnt spend it sustainably unless I went the yacht, airplane and 5 homes routine.

Yep. Me and my work buddies were discussing exactly this scenario. $600,000 a year - what would you do? It would have to be a small yacht and a small airplane/jet. And 5 reasonably luxurious homes (nothing too extravagant).

I did get to tell my buddies about the 4% rule of thumb. One guy (27 or so) said if he won the $15 million, he would work till he's 35 or so, then retire. Of course our jobs ain't half bad That's my plan anyway. Work till 35 or so, then retire. I probably won't have a $600,000 SWR though.

 

[cute fuzzy bunny]

Well, if you retire with 600,000, you could go with the one year, 600k nswr plan. Live it up. Then go back to work. You'll really appreciate the work better. By the way, I have a financial consulting plan to sell you to help you spend the money. No active thought or planning required. Just hand me the 600k and enjoy the ride of your life. I'll be there with you to make sure nothing bad or unexpected happens. Oh yeah, and my wife and son and three dogs will be along as well.

 

[saluki9]

Who saw the meatpacker on the news who was talking about how much his family needed this money because they "lost everything" in a house fire 2 years ago. He also indicated they were living "check to check". He finally mentioned that the night they won he had just been "cleaned out" at the local casino :


ok, I'm a little bitter